Business - Importing Financial Data (Xero)
- Brandon Bellamy
- Zac Crites
This article provides instructions on how to import financial information from Xero.
Follow the instructions below to import Income Statement and Balance Sheet information from Xero into an existing business return in CrossLink.
Financial Statement Import is not available for exempt organization, estate or trust returns.
1. While inside a business return, select Return, then select Import Xero Data. On the following screen, select “Yes” to connect to Xero and import the applicable data.
2. Once the data has been imported, the Imported Income Statement Information and Imported Balance Sheet Information worksheets will appear in the Attached Forms If no information appears in these worksheets, review the data file you created.
Worksheets must be properly formatted as a .csv file.
3. Once the data has been imported into the return, navigate to the Tax Line Mapping column on each of the Import Worksheets. Choose the appropriate tax line mapping for the item of income or expense (Income Statement) or asset, liability, or equity item (Balance Sheet).
4. Any data included in the Tax Line Mapping field that is not in the F3 list will be ignored in data processing. Any line that does not have a value in the Tax Line Mapping field will also be ignored. Do not choose a value for Tax Line Mapping for any row that corresponds to a “Total” value on the .csv Report.
5. When all applicable fields have been mapped to a Tax Line Mapping, press the Recalc button to refresh all data within the return based on the information mapped on these worksheets.
6. If any of the tax line mappings need to be changed for any item, navigate to the applicable line on the Imported Information worksheet(s), update the Tax Line Mapping, and press the Recalc button to refresh all data within the return based on the updated information.